Forecast for EUR/USD on December 8, 2022

Yesterday, the pound was down along with the rest of the counter-dollar currencies. It closed the day almost at 1.2200 (1.2202), which means it did not settle below the level

The Australian dollar gained 0.58% yesterday. The price reached the resistance at 0.6730 and in today’s Asian session it is moving down from it. The Marlin oscillator is already moving

The EUR/USD pair has faced strong resistances at the levels of 1.0512 because support had become resistance on Nov. 29, 2022. So, the strong resistance has been already formed

The EUR/USD pair is trading in the green at 1.0517 at the time of writing. It has rallied today as the Dollar Index turned to the downside again

The market remained under Selling pressure until the recent bullish break above 1.0000 was achieved. Now the market remains under buying pressure until significant downside rejection occurs around

Intensive bullish price action was demonstrated around the lower limit of the current movement channel. Initial bullish targets around 1.0150 and 1.0500 were already reached. Price action around this key-level

The next key-level to be visited was located around 1.2340. That’s why, further bullish advancement was expected. Price action around 1.2340 was being watched for bearish rejection and a short-term

Early in the American season, the British pound is trading exactly at the 21 SMA located at 1.2216, having reached the top of the downtrend channel which has been underway

On Tuesday, the EUR/USD pair moved closer to the correctional level of 200.0% at 1.0430. Today, it reversed and started a new uptrend towards the correctional level of 161.8%